Toys R Us Shares Rise as Loss Narrows
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Toys R Us Inc. shares surged as the No. 2 U.S. toy seller’s third-quarter loss narrowed to $28 million, better than forecast.
The net loss shrank to 13 cents a share, from $44 million, or 22 cents, a year earlier. Sales rose 4.3% to $2.27 billion.
Toys R Us sold more traditional toys such as Chicken Dance Elmo and the Rapunzel Barbie doll. Toys R Us cut costs and has revamped its more than 600 U.S. stores. Chief Executive John Eyler is lowering prices on some toys to lure customers back from discounters such as larger rival Wal-Mart Stores Inc.
Shares of Toys R Us rose $2.25 to $12.65 on the NYSE.
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